With the end of the year fast approaching, your life may seem busier and more stressful than ever. With a to-do list that seems never-ending, the last thing on your mind is health insurance benefits and FSA funds. We’re here to tell you why using your FSA should be on the top of your to-do list and how you can have fun making the most of it!
First, what is a Flexible Spending Account?
A Flexible Spending Account, or FSA, is an account consisting of money you chose to set aside from your paycheck that is reserved for health-related expenses. This money is non-taxed, so the benefit is in not having to pay tax on funds used to purchase these particular items. The catch is that these funds are characterized as “use it or lose it,” meaning they need to be used by a certain date or the funds are forfeited.
Don’t worry, we’re not going to let that happen to you.
Here is a list of 10 ways to use your FSA money before you lose it. Try not to look at it as an obligation. Let’s consider it a time to treat yourself to the most responsible shopping spree of your adult life!
You work hard every day, and there are many practical and fun ways to use the FSA dollars you saved. This list goes through many options to help you take advantage of your savings, but don’t panic if you’re just not able to use it all up. Check with your employer, as many companies offer options to roll over a certain amount of your FSA funds into the next year or to extend your funds a month or two into the next year.
2020 On-site is here for all your eye health and vision needs. Check out when our Mobile Vision Clinics will be in a neighborhood near you and schedule an eye appointment. Or, visit our online store for virtual styling, eyewear, contact lenses, and much more.
Wishing you a safe and healthy year ahead!
About Dr. Katherine Harkins
Dr. Katherine Harkins grew up in a small town in Wisconsin and attended college at the University of Wisconsin-Madison, where she earned her BS in Biology. She was drawn to the East Coast to attend optometry school at The New England College of Optometry in Boston and fell in love with the city. After earning her Doctorate in Optometry, she spent the next several years in private practice where she enjoyed caring for patients of all ages, providing comprehensive eye care in both English and Spanish. Dr. Harkins likes to travel, try new foods, and meet new people. She also loves her sports teams and luckily rarely has to choose between cheering for her Wisconsin and New England teams!